Vietnam Inflation

Vietnam: Inflation stable in June

June 25, 2015

In June, inflation came in at 0.35% over the previous month, which was above May’s increase of 0.16%. According to the General Statistics Office of Vietnam, June’s increase in inflation resulted from a strong increase in the price of transportation, while seven of the other 11 components of the index observed modest gains.

Annual inflation in June was level at May’s 1.0%, maintaining the highest reading in six months. However, annual average inflation decreased from 2.4% in May to 2.1% in June, which marked the lowest level since June 2002. As a result, average inflation remains well below the Central Bank’s target of 5.0% for 2015.

FocusEconomics Consensus Forecast panelists expect headline inflation to average 2.7% in 2015, which is down 0.1 percentage points from last month’s forecast. According to the panel, average inflation will accelerate to 4.5% in 2016.

Author:Robert Hill, Economist

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The industrial sector performed strongly in December but grew at a more moderated pace compared to the last three months, largely reflecting a broad-based slowdown but also partly due to a reduced base-effect.